What you need to know about the payroll tax suspension

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An executive order from President Donald Trump issued last month provides a payroll tax hiatus for U.S. workers starting Aug. 31.  However, while a payroll tax suspension undoubtedly will give working Americans a boost in take-home pay, it’s unclear if employers will even go along with the plan due to the confusion in implementing it.

See also: Employers are doubling down on financial wellness. Is it helping?

At its most basic, any employee who earns less than $4,000 before taxes per biweekly pay period is eligible for the payroll tax deferral from Sept. 1 through Dec. 31, 2020.

Jonathan

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